This course introduces the fundamentals of the money markets. Topics include the features and characteristics, issuers and buyers, and the different types of money market instruments. Pricing of the different instruments is explored using examples of a variety of products. A discussion of LIBOR rates and curves and their determinants are examined in the context of these instruments.

By the end of the course the course participants will be able to:

• Identify the features and characteristics of fixed income securities
• Identify the main money markets instruments: T-Bills, interbank cash markets, repos, brokered CDs, commercial paper and bankers acceptances
• Calculate accrued interest using appropriate day count conventions
• Convert between money market yield, discount rate and effective yield
• Interpret market quotations between the varying instruments
• Identify the main derivative instruments associated with the money markets: short term interest rate futures, forward rate agreements (FRAs), swaps and interest rate options
• Derive forward rates and curves from the cash markets
• Identify the different risks associated with debt
• Identify appropriate Bloomberg pages that market practitioners use

This course is targeted towards those with little or no knowledge of the money markets and is appropriate for anyone with an interest in this area. Delegates with only a basic business background will benefit regardless of their experience, current job function, or employer.